PETALING JAYA: A key suspect linked to a high-profile gold investment scam has been apprehended at Penang International Airport after arriving from Dubai.
The arrest was confirmed by Comm Datuk Seri Ramli Mohamed Yoosuf, director of Bukit Aman’s Commercial Crime Investigation Department (CCID). The suspect is believed to be one of the main figures behind the PA Jewellery and Paddy Jewellery scams.
Additionally, four other individuals with suspected connections to the scam were arrested in Kedah and Kuala Lumpur on October 21 and 22. These arrests included three men and one woman, aged between 29 and 38.
The suspects are currently in custody until October 25 to aid in the ongoing investigation. So far, 69 reports have been lodged, totaling RM48.5 million in losses. Investigations revealed that the scammers had offered five investment packages promising returns based on current gold prices, yet investors did not receive the profits as promised.